{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2710.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2710.1","heading":"Organization - Corporate powers retained","body":"A. A domestic society organized on or after the effective date\n\nof this act shall only be formed by ten or more citizens of the\n\nUnited States, a majority of whom are citizens of this state, who\n\ndesire to form a fraternal benefit society and who may make, sign\n\nand acknowledge before some officer competent to take acknowledgment\n\nof deeds, articles of incorporation, in which shall be stated:\n\n1. The proposed corporate name of the society, which shall not\n\nso closely resemble the name of any society or insurance company as\n\nto be misleading or confusing;\n\n2. The purposes for which it is being formed and the mode in\n\nwhich its corporate powers are to be exercised. Such purposes shall\n\nnot include more liberal powers than are granted by this article;\n\nand\n\n3. The names and residences of the incorporators and the names,\n\nresidences and official titles of all the officers, trustees,\n\ndirectors, or other persons who are to have and exercise the general\n\ncontrol of the management of the affairs and funds of the society\n\nfor the first year or until the ensuing election at which all such\n\nofficers shall be elected by the supreme governing body, which\n\nelection shall be held not later than one (1) year from the date of\n\nissuance of the permanent certificate of authority.\n\nB. Such articles of incorporation, duly certified copies of the\n\nsociety's bylaws and rules, copies of all proposed forms of\n\ncertificates, applications therefor, and circulars to be issued by\n\nthe society, evidence of surplus funds as required herein and a bond\n\nconditioned upon the return to applicants of the advanced payments\n\nif the organization is not completed within one (1) year shall be\n\nfiled with the Insurance Commissioner, who may require such further\n\ninformation as the Commissioner deems necessary. The bond with\n\nsureties approved by the Commissioner shall be in such amount, not\n\nless than Three Hundred Thousand Dollars ($300,000.00) nor more than\n\nOne Million Five Hundred Thousand Dollars ($1,500,000.00), as\n\nrequired by the Commissioner. All documents filed are to be in the\n\nEnglish language. If the purposes of the society conform to the\n\nrequirements of this article and all provisions of the law have been\n\ncomplied with, the Commissioner shall so certify, retain and file\n\nthe articles of incorporation and furnish the incorporators a\n\npreliminary certificate of authority authorizing the society to\n\nsolicit members as hereinafter provided. No solicitation of or\n\nenrollment of applicants shall be commenced until there has been\n\nsubmitted to the Insurance Commissioner evidence that such fraternal\n\nbenefit society has surplus funds in an amount equal to that\n\nrequired of a domestic mutual life insurer.\n\nC. No preliminary certificate of authority granted under the\n\nprovisions of this section shall be valid after one (1) year from\n\nits date or after such further period, not exceeding one (1) year,\n\nas may be authorized by the Commissioner upon cause shown, unless\n\nthe five hundred applicants hereinafter required have been secured\n\nand the organization has been completed as herein provided. The\n\narticles of incorporation and all other proceedings thereunder shall\n\nbecome null and void in one (1) year from the date of the\n\npreliminary certificate of authority, or at the expiration of the\n\nextended period, unless the society shall have completed its\n\norganization and received a certificate of authority to do business\n\nas hereinafter provided.\n\nD. Upon receipt of a preliminary certificate of authority from\n\nthe Commissioner, the society may solicit members for the purpose of\n\ncompleting its organization, shall collect from each applicant the\n\namount of not less than one regular monthly premium in accordance\n\nwith its table of rates, and shall issue to each such applicant a\n\nreceipt for the amount collected. No society shall incur any\n\nliability other than for the return of the advance premium, nor\nm\n\nthe Commissioner, the society may solicit members for the purpose of\n\ncompleting its organization, shall collect from each applicant the\n\namount of not less than one regular monthly premium in accordance\n\nwith its table of rates, and shall issue to each such applicant a\n\nreceipt for the amount collected. No society shall incur any\n\nliability other than for the return of the advance premium, nor\n\nissue any certificate, nor pay, allow, or offer or promise to pay or\n\nallow, any benefit to any person until:\n\n1. Actual bona fide applications for benefits have been secured\n\non not less than five hundred applicants, and any necessary evidence\n\nof insurability has been furnished to and approved by the society;\n\n2. At least ten subordinate lodges have been established into\n\nwhich the five hundred applicants have been admitted;\n\n3. There has been submitted to the Commissioner, under oath of\n\nthe president or secretary, or corresponding officer of the society,\n\na list of such applicants, giving their names, addresses, date each\n\nwas admitted, name and number of the subordinate lodge of which each\n\napplicant is a member, amount of benefits to be granted and premiums\n\ntherefor; and\n\n4. It shall have been shown to the Commissioner, by sworn\n\nstatement of the treasurer, or corresponding officer of such\n\nsociety, that at least five hundred applicants have each paid in\n\ncash at least one regular monthly premium as herein provided, which\n\npremiums in the aggregate shall amount to at least One Hundred Fifty\n\nThousand Dollars ($150,000.00). Said advance premiums shall be held\n\nin trust during the period of organization and if the society has\n\nnot qualified for a certificate of authority within one (1) year, as\n\nherein provided, such premiums shall be returned to the applicants.\n\nE. The Commissioner may make such examination and require such\n\nfurther information as the Commissioner deems advisable. Upon\n\nrepresentation of satisfactory evidence that the society has\n\ncomplied with all the provisions of law, the Commissioner shall\n\nissue to the society a certificate of authority to that effect and\n\nthat the society is authorized to transact business pursuant to the\n\nprovisions of this act. The certificate of authority shall be prima\n\nfacie evidence of the existence of the society at the date of the\n\ncertificate. The Commissioner shall cause a record of the\n\ncertificate of authority to be made. A certified copy of the record\n\nmay be given in evidence with like effect as the original\n\ncertificate of authority.\n\nF. Any incorporated society authorized to transact business in\n\nthis state at the time this act becomes effective shall not be\n\nrequired to reincorporate.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"20101a7c6898bd8ec6e7ae4a5c442e69650c3c7fb1cb992307d411a32574e0c1","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2709.1","next":"us-ok/okla.-stat.-tit.-36-36-2711.1"},"notice":"GroundRules: Original legal text. Not legal advice."}